Jobless Claims: 1969 Lows
September 6, 2018
Bottom Line: Initial claims fell to their lowest level since December, 1969. That said, there wasn't much change in the underlying trend given that about half of the decline was due to seasonal adjustments. Still, the trend remains positive for labor markets as the 4-week average is at 210k, below the 13-week average that is now 216k.
Jobless Claims FELL by 10k during the week ended September 1st, 203k, compared with market expectations for a decline to 212k.The 4-week average FELL by 2.8k to 210k and the 13 week average FELL by 1.5k to 216k.
Continuing Claims FELL by 3k during the week ended August 25th to 1,707k, after the prior week was revised slightly lower from 1,727k to 1,710k.The 4-week average FELL by 13k to 1,719k.
On a non-seasonally adjusted basis, Continuing Claims FELL by 28k to 1,596k during the week ended August 18th.
The Insured Jobless Rate STAYED at 1.2% during the week ended August 25th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.
Article by Contingent Macro Advisors